Horizon Bancorp Inc reports results for the quarter ended in January - Earnings Summary

Horizon Bancorp

24/07/2024 23:01

* Horizon Bancorp Inc  HBNC.OQ  reported quarterly adjusted
earnings of 32 cents​​ per share for the quarter ended in
January, lower than the same quarter last year, when the company
reported EPS of 43 cents.  The mean expectation of five analysts
for the quarter was for earnings of 31 cents per share. Wall
Street expected results to range from 29 cents to 33 cents per
share.
    * Revenue fell 2.4% to $55.76 million from a year ago;
analysts
expected $55.22 million. 
    * Horizon Bancorp Inc's reported EPS for the quarter was 32
cents​.
    * The company reported quarterly net income of $14.14
million.
    * Horizon Bancorp Inc shares had risen by 24.3% this
quarter and
gained 7.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Horizon Bancorp
Inc is $14.00 
This summary was machine generated from LSEG data July 24 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.31           0.32           Beat
 Mar. 31 2024      0.31           0.32           Beat
 Dec. 31 2023      0.31           0.33           Beat
 Sep. 30 2023      0.36           0.37           Beat